NHC Foods Clarifies Subsidiary Name, Approves $24.3M Investment
NHC Foods Ltd has issued a revised outcome of its Board Meeting held on June 1, 2026, to correct a typographical error in the name of its subsidiary. The correct name is NHC INTERNATIONAL UK LIMITED, not NHC FOODS UK LIMITED. Additionally, the Board approved an investment of USD 24,295,000 (approximately £18,043,000) in NHC INTERNATIONAL UK LIMITED, a wholly-owned subsidiary. This investment is part of the utilization of proceeds from Foreign Currency Convertible Bonds (FCCBs) amounting to USD 27 million. The investment will result in the allotment of 18,043,000 new ordinary shares to NHC Foods Ltd in its subsidiary. The company anticipates completing the necessary procedures for this Overseas Direct Investment within 10-15 days.
Key Highlights
- Subsidiary name corrected to NHC INTERNATIONAL UK LIMITED.
- Board approved investment of USD 24.3 million in wholly-owned subsidiary.
- Investment is for utilization of FCCB proceeds.
- 18.04 million new ordinary shares to be allotted in subsidiary.
- Investment falls under Automatic Route of FEMA.
Price Impact
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